Tuesday morning, Wells Fargo CEO Tim “Apology Machine” Sloan will appear before the Senate Banking Committee to take some public tongue lashings for his bank’s fake account fiasco, which saw Wells employee opening up millions of bogus accounts in customers’ names in order to game the bank’s sales quota system. Sloan’s prepared remarks for this televised tomato-throwing include all manner of statements about how badly the bank behaved and how it’s darn-tootin’ not gonna let that happen again, but also don’t discuss one issue that will certainly be a hot-button topic among some senators in the room. [More]
tim sloan
Wells Fargo CEO “Deeply Sorry” About That Time His Employees Opened Millions Of Fake Accounts In Customers’ Names
By 10.2.17 — Updated: 10.3.17
New Wells Fargo CEO Begins Mea Culpa Parade With Employees
By 10.26.16 — Updated: 10.31.16
Dozens of former and current Wells Fargo employees have shared their nightmarish experiences — health issues, threats of termination — involving the bank’s fake account fiasco. So aside from affected customers — who may or may not be leaving the bank — it makes sense that the new CEO of the company would apologize to workers. [More]
New Wells Fargo CEO Recently Denied “Overbearing Sales Culture” That Created Fake Account Fiasco
By 10.13.16
Yesterday afternoon, Wells Fargo CEO John Stumpf announced his sudden “retirement” from the bank that continues to deal with the fallout of a fake account fiasco that saw thousands of Wells employees opening up millions of bogus, unauthorized accounts just to meet high-pressure sales goals and quotas. However, the Wells exec who has stepped into the CEO spot has a history of denying that any such atmosphere existed at the bank. [More]
